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Integrated BioPharma, Inc. (INBP0.00%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $12,614,000 from $11,509,000 in the same quarter the previous year. The increase is attributed to higher sales volumes to customers other than the company's two major customers.
Cost of sales for the quarter was $11,443,000, representing 90.7% of sales, compared to 95.5% in the same quarter of the previous year. The decrease in cost ratio is due to increased net sales offsetting fixed manufacturing overhead.
The company reported a gross profit of $1,171,000 for the quarter, compared to $520,000 in the previous year, reflecting the increased sales.
Selling and administrative expenses remained relatively stable at $969,000, compared to $972,000 in the previous year.
Net income for the quarter was $116,000, compared to a net loss of $382,000 in the previous year. The improvement is primarily due to increased operating income.
Cash provided by operating activities was $858,000, while cash used in investing and financing activities was $85,000 and $11,000, respectively.
Integrated BioPharma had a working capital of $12,578,000 as of December 31, 2024. The company expects its operations and revolving credit facility to support working capital requirements through February 13, 2026.
The filing also discusses potential risks, including inflation, labor market conditions, and geopolitical events such as the Ukraine war and the Israel-Hamas conflict, which may impact sales and margins.
Integrated BioPharma continues to focus on expanding its customer base and reducing reliance on its two significant customers in its Contract Manufacturing Segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Integrated BioPharma, Inc. quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.